PARROT: 2024 FIRST-QUARTER BUSINESS
May 16 2024 - 2:00AM
PARROT: 2024 FIRST-QUARTER BUSINESS
PRESS
RELEASE May
16, 2024 - 8:00am CET
2024 FIRST-QUARTER
BUSINESS
Consolidated revenues of €15.8m Positive
commercial trends for professional microdrones
The Parrot group, a European leader for
professional microdrones, recorded €15.8m of consolidated revenues
for the first quarter of 2024, down 5% (same at constant exchange
rates). Commercial trends are positive for professional microdrones
(+4%) and the Photogrammetry business is looking ahead to the
impact of the innovations launched in April (-11%). The good level
of the gross margin and the strict control over costs kept
operating expenditure at a level that is aligned with the Group’s
ambitions for development.
REVENUES €m and % of revenues |
Q1 20243 months |
Q1 20233 months |
Change |
FY 2023 12 months |
A |
Professional microdrones Of which, legacy
products |
9.30.0 |
59% |
9.40.5 |
57% |
-1% |
33.21.2 |
51% |
C |
Photogrammetry |
6.4 |
41% |
7.2 |
43% |
-11% |
31.8 |
49% |
D |
Parrot SA |
0.2 |
- |
0.2 |
|
- |
0.7 |
|
E |
Intragroup eliminations |
-0.2 |
- |
-0.2 |
|
- |
-0.7 |
|
|
PARROT GROUP TOTAL |
15.8 |
100% |
16.7 |
100% |
-5% |
65.0 |
100% |
Professional microdrones
business
The professional microdrones business recorded
€9.3m of revenues, representing 59% of Group revenues. Restated for
the impact of legacy products, the ANAFI professional microdrones
range generated €9.3m of revenues during the first quarter of 2024,
up 4% from €8.9m for the first quarter of 2023. Sales momentum was
driven in particular by new procurements from the French Defense
Procurement Agency (Direction Générale de l'Armement) as part of
the microdrone framework program. Tenders have been won in several
European countries, the UK, the USA, Canada and JAPAC countries,
while order intake remain dependent on the timelines for managing
state budgets in several NATO countries.
Photogrammetry business
Revenues for the photogrammetry business came to
€6.4m (-10% at constant exchange rates), representing 41% of Group
revenues. The basis for comparison includes non-recurring
enterprise deployments recorded in early 2023. Innovations,
particularly to expand the compatibility of solutions with mobile
phones, were launched in April: they further strengthen synergies
between the data captured by the drones and data on the ground, and
add assisted reality features that increase precision levels and
provide very innovative capabilities for tracking over time. They
are aimed in priority at the construction, geomatics and civil
security sectors.
Outlook
While the interest in secure and autonomous
microdrones is highlighted by the preponderance of new technologies
in the current conflicts, Parrot is working to meet the
technological and operational challenges faced to ensure the
success of its next microdrone, which is driving trends in
2024.
In the photogrammetry sector, the expansion of
the addressable market, capitalizing in particular on complementary
equipment, is a key area for growth, as in 2023.
With the effective implementation of its
strategic plan and its rigorous management of operations and
investments, the Group has financial resources in place enabling it
to continue moving forward with its ambitions for development.
Next financial dates
Combined general meeting: Wednesday June 5, 2024
from 9am2024 second-quarter business and 2024 first-half earnings:
Friday August 2, 2024 at 8am
ABOUT THE PARROT GROUP
Parrot is Europe's leading commercial microUAV
group. With a strong international presence, the Group designs,
develops and markets a complementary range of micro-UAV equipment
and image analysis software (photogrammetry) dedicated to
companies, large groups and government organizations. Its offer is
mainly centered on three vertical markets: (i) Defense and
Security, (ii) Inspection, 3D mapping and Geomatics, (iii) and
Precision agriculture.
Its ANAFI range of microUAVs, recognized for
their performance, robustness and ease of use, features an open
source architecture and meets the highest cybersecurity standards.
Its Pix4D photogrammetry software suite for mobile and drone
mapping is based on advanced technical expertise and offers
solutions tailored to the specificities of the verticals it
addresses.
The Parrot Group, founded in 1994 by Henri
Seydoux its Chairman, CEO and main shareholders, designs and
develops its products in Europe, and is headquartered in Paris.
Today, it has over 500 employees worldwide and carries out the vast
majority of its sales internationally. Parrot has been listed on
Euronext Paris since 2006 (FR0004038263 - PARRO). For more
information: www.parrot.com, www.pix4d.com
CONTACTS
Investors,
analysts, financial mediaMarie Calleux - T.: +33 1 48 03 60
60parrot@calyptus.net |
Tech &
corporate mediaChris Roberts - T.: +33 1 48 03 60
60pr@parrot.com |
- PARROT_CP_CA-T1-2024_20240516_EN
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